The in-charge auditor has calculated, using PPS,
Question # 00304247
Posted By:
Updated on: 06/04/2016 09:07 PM Due on: 07/04/2016
The in-charge auditor has calculated, using PPS, that a sample of 117 account receivable invoices should be selected to help determine the accuracy of the AR balance. The invoices were selected and confirmations were sent. The following issues were uncovered. What is your response to each of the issues?
a. Confirmation #34 was not returned.
b. Confirmation #21 was sent back with a comment from the customer saying the amount was paid in January.
c. Confirmation #74 was returned with a comment that the amount is too high due to a returned shipment by the customer.
d. Confirmation #82 was return to your client.
e. Confirmation #98 was returned with a comment stating that the customer only keeps books as a total balance not individual invoices.
a. Confirmation #34 was not returned.
b. Confirmation #21 was sent back with a comment from the customer saying the amount was paid in January.
c. Confirmation #74 was returned with a comment that the amount is too high due to a returned shipment by the customer.
d. Confirmation #82 was return to your client.
e. Confirmation #98 was returned with a comment stating that the customer only keeps books as a total balance not individual invoices.
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Rating:
/5
Solution: The in-charge auditor has calculated, using PPS,